But Leigh Steinberg, one of the country's leading sports agents, is urging Woods to speak up now -- or he could lose more sponsors. (Woods' status with consumers has dropped from sixth to 24th on a list of celebrity endorsers, according to Bloomberg.)

"[I'd tell him] to get out in front of this story," Steinberg told CBS' "The Early Show" Wednesday. "The American people love the fall of the high-and-mighty, but they also love a comeback story. He needs to get out front with all the facts and make a public apology to the relevant people, so that the healing can begin and he can put this behind him. Otherwise it will eat him alive."